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StoneX says urea prices are falling as global demand weakens and India's last tender left about 2 million tonnes unsold. New Orleans urea was recorded at $313 per ton, among the lowest levels in the quartile.
Buyers are holding off in hopes of further declines.
Surplus urea and weak demand keep nitrogen costs low for grain producers, while buyers' reluctance adds downward pressure on prices.
fertilizerdaily.comTimothy BuenoNov 21, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
